Itc by raheja builder on his works contractor bill

This discussion explores whether a builder like Raheja can claim Input Tax Credit (ITC) on bills from a works contractor for constructing a new building. The argument presented is that since the flats are considered stock-in-trade and not a fixed asset for a builder, and GST is payable on their sale before Occupancy Certificate (OC), claiming ITC on the contractor's GST charges should be permissible. Reference is made to Notification No. 03/2019-Central Tax Rate and a critical 2019 GST circular.